A change in policy was being talked about that would have dramatically altered the trading between Mexico and the United States.
A change in policy was being talked about that would have dramatically altered the trading between Mexico and the United States.
Transcript
U.S. grown genetically modified corn will still be welcome in Mexico past 2025 but only for use in animal feed. The proposed ban on imports would have dramatically altered the biggest destination for 17 million tonnes of American yellow corn - or about $3 billion worth of product.
Mexico’s Ministry of Economy announced Monday they will carry out a gradual substitution of GM feed and milled corn, but left the dates for doing so open ended. However, Mexican experts, and authorities from other countries, will be looking at potential health issues.
Corn has a long history in Mexico. The first domesticated varieties were grown around 9,000 years ago. In order to protect native corn varieties, America’s number one trading partner will prohibit the import of GM corn seeds and block the use of GM corn for human consumption.
The ban had created some tension between the two trading partners and even raised fears of a possible violation of the U.S. - Mexico - Canada trade agreement.
The U.S. Trade Representative has been saying for several months Mexico’s position was not grounded in science and threatened to cause serious economic harm to U.S. farmers and livestock producers.
For Market to Market, I’m David Miller.
Watch More
The White House adds detail to the new trade deal, while China dodges the details. The drought continues to hammer the south and west. We’ll look at the ticking clock facing the dairy industry. And, commodity market analysis with Sue Martin.
The White House announced this week that President Trump has secured “historic trade deals with China” after his visit last week with President Xi.
This week, the East Coast received an early blast of summer, with highs in Philadelphia reaching into the 90’s with the heatwave expected to continue through the weekend.
Sue Martin talks interest rates, oil, corn, soybeans, hogs, cattle and packing plants in our Market Plus.
Sue Martin discusses the latest trade deal with China along with corn, soybeans, cattle and hogs in our Market Analysis.
Agriculture gets sorted to the side during high-stakes negotiations with China. The yeas have it - E15 is approved in the House but not without some pushback. Revving up fans, drivers, and rural communities on the dirt track. And, commodity market analysis with Naomi Blohm.